Comments on: Technical Analysis & Trade Ideas 7-10-23 https://rightsideofthechart.com/technical-analysis-trade-ideas-7-10-23/ Stock Trading, Investing & Market Analysis Tue, 11 Jul 2023 18:07:47 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: KevinK https://rightsideofthechart.com/technical-analysis-trade-ideas-7-10-23/#comment-28623 Tue, 11 Jul 2023 18:07:47 +0000 https://rightsideofthechart.com/?p=211874#comment-28623 In reply to trade0039.

Maybe because it’s a bull market.

]]> By: Jeff Vandenburgh https://rightsideofthechart.com/technical-analysis-trade-ideas-7-10-23/#comment-28621 Tue, 11 Jul 2023 17:35:45 +0000 https://rightsideofthechart.com/?p=211874#comment-28621 Perhaps the “Big 7” stocks remain a bit weaker going into the July 24th QQQ rebalancing, but that also seems to be a bit of a catalyst for the broadening rally we’re seeing in equity markets. Broadening breadth is a bullish thing. Maybe shorting the big names will work for a few days, but I’m more interested in bullish trades in lagging stocks and sectors in the meantime. Take a stock like MRNA for instance. It’s a severely lagging stock in the QQQ, and presently coiled up after basing for 18 months. Perhaps MRNA is poised ready for a breakout, with the rebalancing being the catalyst?
Another way to play the rebalancing would be to simply short QQQ or SPY and go long the equal-weight QQQE or RSP over the next week or two. In the end, once the rebalancing is complete, or on the day of, I’d imagine the Big 7 and the QQQ are to be bought, and such a pairs trade should be exited or reversed.

]]> By: trade0039 https://rightsideofthechart.com/technical-analysis-trade-ideas-7-10-23/#comment-28620 Tue, 11 Jul 2023 17:07:36 +0000 https://rightsideofthechart.com/?p=211874#comment-28620 Broad market is leading the market yesterday and today!

Today RSP is up 0.81% while SPY is up 0.34% and
QQQE is up 0.5% and QQQ is up 0.17%

]]> By: pbwilli37 https://rightsideofthechart.com/technical-analysis-trade-ideas-7-10-23/#comment-28619 Tue, 11 Jul 2023 13:28:13 +0000 https://rightsideofthechart.com/?p=211874#comment-28619 In reply to reloaded.

I agree and would like to hear r
Randy’s thoughts on the impact that could hapen on the friday before it takes place the 21st and the opening day the 24th.

]]> By: trade0039 https://rightsideofthechart.com/technical-analysis-trade-ideas-7-10-23/#comment-28618 Tue, 11 Jul 2023 02:25:04 +0000 https://rightsideofthechart.com/?p=211874#comment-28618 Bulls are very stubborn this year!

]]> By: reloaded https://rightsideofthechart.com/technical-analysis-trade-ideas-7-10-23/#comment-28617 Mon, 10 Jul 2023 20:39:36 +0000 https://rightsideofthechart.com/?p=211874#comment-28617 I don’t normally comment but I’d like to get a thought off my chest. The whole “NASDAQ rebalance” going around the head lines has me suspicious that the people managing the index expects a massive correction in the “big 7” and they’re trying to mitigate the impact of such a move for their index.

My 8 ball seems to think so too, let’s make them ‘tendies.

]]> By: rsotc https://rightsideofthechart.com/technical-analysis-trade-ideas-7-10-23/#comment-28615 Mon, 10 Jul 2023 16:30:57 +0000 https://rightsideofthechart.com/?p=211874#comment-28615 In reply to budgetny.

Not yet. Currently testing that key uptrend line (support) as I type (12:29pm EST). Here’s the updated chart. Also, keep in mind that the comparable TL for QQQ comes in at slightly lower levels so all the better when/if that TL is clearly taken out as well.

]]> By: budgetny https://rightsideofthechart.com/technical-analysis-trade-ideas-7-10-23/#comment-28613 Mon, 10 Jul 2023 16:14:55 +0000 https://rightsideofthechart.com/?p=211874#comment-28613 Did NQ brake support

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